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Practice Question 4

ABC PLC
General Journal
For the year ended 31st December 2015
Date
10-Jan-15

12-Feb-15

16-Mar-15

22-Apr-15

23-May-15

14-Jun-15

17-Jul-15

22-Aug-16

13-Sep-16

Particulars

Debit

Rent Expense

Credit
3500

Cash
Paid rent of the shop

3500

Purchases
5,000
Accounts Payable
Record purchase of Inventory
Cash

5,000

1,000
Loan
Record loan from bank

1,000

Fittings

2,000

Cash
Record purchase of fittings
Cash

2,000

10,000

Inventories
Record sale of equipment on cash
Accounts Receivable
2,500
Inventories
Record sale of inventories on credit
Accounts Payable

Cash
2,500
Accounts Receivable
Record payments received from debtors

Cash
Paid interest on loan

2,500

5,000

Cash
Record payments made to creditors

Interest expense

10,000

5,000

2,500

100
100

18-Oct-15

20-Nov-15

Other expenses

1,900

Cash
Paid other expenses
Drawings

1,900

1,500

Cash
Record cash withdrawn for personal use

1,500